Maybank

Additional capital the centerpiece of MPI's capital plan under the ICAAP documentMAYBANK has infused additional US$50 million into its local subsidiary, Maybank Philippines, Inc. (MPI), shortly before the year 2010 ended, signifying yet another vote of confidence in the country's brightening economic prospects under the present administration.

The additional capital infusion is the centerpiece of MPI's capital plan under the ICAAP document that the Bank submitted to BSP recently to ensure that the Bank is adequately capitalized. Among the banks that submitted the BSP-mandated document on time, MPI has set forth in its ICAAP document its appropriate capital level given its risk profile, strategic and business plans as well as its operating environment.

With a post-infusion qualifying capital of over P5 billion and risk-based capital adequacy ratio of above industry benchmarks, MPI is now in a stronger position to capitalize on emerging business opportunities as it pursues various initiatives on many fronts aimed at strengthening its market presence and improving its profitability.

Maybank is Malaysia's leading financial services provider backed by over USD100 billion in Group assets and USD18.6 billion market capitalization. Maybank is present in 14 countries worldwide, including key financial centers such as Singapore, Hong Kong, Jakarta, Shanghai, New York and London.

Over the years, the Maybank Group has expanded its reach in South East Asia and also strengthened its operations in the Philippines. In 2010 alone, five new branches in five different sites were opened, bringing Maybank Philippines' total branch count to 50.

Maybank Philippines Corporate Affairs
February 08, 2011